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.the turtle conservancy.org. >> rose: thank you. pope benedict xvi resigned from his post as head of the roman catholic church last week. he is the first phone do so in almost 600 years. benedict stated that due to his age and health he could no longer fulfill his duty. as the vatican searches for answer and a successor, a debate over the future of the catholic church has resurfaced. pope benedict xvi's conservative approach was at odds with a church that sought to modernize. the vatican must move or in ward when many believe the religion to be in crisis. here is cbs news correspondent allen pizzey reporting from rome. >> reporter: with his brief announcement in latin, benedict set a modern peres sent that ensures his successor cans take the same path. as one cardinal put it-- he broke a taboo. catholics around the world reacted with surprise, some sadness but overall there was a sense that benedict had done the right thing for himself and the church. >> it's quite an act of humility for the pope to realize he can no longer physically and mentally discharge the duties of his author. >> even as
have new details on his help. any speculation reduce speculation of pope benedict's success. >> following a strategic review. they hope to cut 4000 jobs. almost half will come out of the investment bank. >> bob diamond was blamed for changing from a top banking to high risk investment banking. they were outraged by the size of bonuses and the illegal fixing of the libor rates. the new went on how they want to change for barclays. >> i think we were into short- term focus. on occasion we were too self- serving. what we're talking about is building a better barclays that learned from those experiences that will deliver the whole of our stakeholders. >> he is not only want to improve the bank's image with the public, he wants to woo investors as well. the bank made a $360 million loss last year. he is cutting $2.5 billion from barkley's annual costs. 1900 jobs will go with the european retail and business banking sector. 1800 in corporate banking. >> the investment bank's deliver 4.1 billion of this profit. they are losing money on the retail side. the investment bank will reta
Search Results 0 to 3 of about 4 (some duplicates have been removed)